All Forum Posts by: Nick Senella

@Edward B. Thanks for the input! This will help to give me a good place to start.

I have an office space that I'm preparing to lease out. The tenant is willing to sign a 5 year lease, with the monthly rent at about $1,300 per month. My question, as this is my first time leasing a commercial space, is what is the average security deposit to ask for on commercial leases? One month? or more than that?

I work as an insurance agent, and have done a ton of studying of REI, but haven't made my first purchase yet. I have a client that owns a 20 unit mobile home park (pads only) that I reached out to a few weeks back to see if he'd be interested in selling. He wants to meet me this week to discuss it further. I don't have a ton of cash to put down up front, so owner financing would probably be my only option at this point. Any advice on valuing a park? Average value per pad, etc? From what I understand, he's getting about $200 per pad per month.

Does anyone know of any lenders that will look at an equity loan / line of credit on a personal storage garage? The building is on its own deed and is valued around $35-40,000. I don’t owe anything on the property. I’ve talked to a few banks local to me and they are saying they’ll only look at a residence for this type of loan. I’m trying to use the funds as a down payment on my first investment property so any advice is appreciated!

I'm starting to study for my PA Real Estate License. Any advice for an online training platform? 

Thanks in advance,

Nick